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Ithaca Energy chief executive steps down; begins search for successor

Fri, 05th Jan 2024 08:33

(Alliance News) - Ithaca Energy PLC on Friday said its chief executive, Alan Bruce, will step down with immediate effect in order to pursue other opportunities.

The London-based North Sea oil and gas operator said it has appointed Ian Lewis, its chief financial officer, to take the role of interim CEO alongside his duties as CFO.

The firm noted that it will begin a formal search process to appoint a successor.

Chair Gilad Myerson said: "The Ithaca Energy board thank Alan for his hard work and strategic insight over the last two and a half years and wish him well for the future. The search for a new Chief Executive Officer will start as soon as possible.

"In the meantime, our strong leadership team will continue to manage the business, led by Iain as interim CEO, working in collaboration with myself and with the support of the board."

Alan Bruce said: "I am extremely proud of what Ithaca Energy has accomplished over the past several years, with the company now established as one of the largest independent operators in the UK. Having led the business through its successful [initial public offering], I am leaving with the company in a strong financial and strategic position.

Ithaca shares fell 1.5% to 141.00 pence each on Friday early morning in London.

By Harvey Dorset, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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